Like much of the country, Massachusetts is seeing a record number of home sales as well as rising home prices this spring. The state-wide tally of single-family homes sold in March surpassed any other March since 2006, with 3,943 homes sold, according to The Warren Group. Prices were also up over 7 percent since last year, too.
“Increasingly, we’re having to go back at least a decade to see sales and median prices at the level they’ve hit lately, and March is a perfect example,” Timothy Warren, CEO of The Warren Group, said in a statement. “As the spring market ramps up, we’re going to see these numbers climb, likely to levels at or even above those of the mid-2000s.”
Boston is also seeing the bump in single-family home sales and prices, but the phenomenon is not effecting each neighborhood uniformly. Eight out of 12 Boston neighborhoods included in The Warren Group’s market analysis had increased in median sales price in the first quarter of 2017. Still, many of the neighborhoods had fewer closed sales than last year, suggesting that inventory is still a struggle in this red-hot housing market.
Here are the five neighborhoods where prices for single-family homes jumped the most in Q1:
1. Dorchester:
Q1 ’17 sales | Q1 ’16 sales | Median price ’17 | Median price ’16 | Percent change | |
---|---|---|---|---|---|
Dorchester | 29 | 37 | $500,000 | $390,000 | 28.20% |
2. East Boston:
Q1 ’17 sales | Q1 ’16 sales | Median price ’17 | Median price ’16 | Percent change | |
---|---|---|---|---|---|
East Boston | 11 | 11 | $430,000 | $375,000 | 14.67% |
3. South Boston:
Q1 ’17 sales | Q1 ’16 sales | Median price ’17 | Median price ’16 | Percent change | |
---|---|---|---|---|---|
South Boston | 15 | 19 | $850,000 | $750,000 | 13.33% |
4. Jamaica Plain:
Q1 ’17 sales | Q1 ’16 sales | Median price ’17 | Median price ’16 | Percent change | |
---|---|---|---|---|---|
Jamaica Plain | 10 | 14 | $787,500 | $706,128 | 11.52% |
5. Hyde Park:
Q1 ’17 sales | Q1 ’16 sales | Median price ’17 | Median price ’16 | Percent change | |
---|---|---|---|---|---|
Hyde Park | 35 | 25 | $385,000 | $346,250 | 11.19% |
You mean “where home prices jumped” ?